The WSJ,reporting on information from “people familiar with the situation,” is stating that Apple has cut its orders of screens for the January-March quarter due to “weaker-than-expected demand.”

Given other reports that Apple’s latest smartphone is in high demand and that suppliers are struggling to keep up, this comes as a surprise. Of course, The Wall Street Journal does have incredibly reliable sources when Apple rumors are in question, so it does seem that this is at least likely. Following this news, Apple’s stock price fell below the $500 mark, though rose back to $501.75 before the day was closed.

BGR‘s Tero Kuittinen took the story to task, stating that its math doesn’t really add up when compared to previous reports. Others believe that this may be a sign of an impending refresh to Apple’s iPhone line. Some rumors have pointed to Apple releasing an update in June. However, since it seems unlikely that an update to the iPhone 5 (such as a 5S) would feature a different screen, that wouldn’t appear to explain why Apple has cut its orders – if that were indeed the case, one would expect Apple to be ramping up production, in anticipation for a new model.